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Earlier Retirement Savings Access for Young Americans

This act lowers the age at which employees can start saving for retirement in company plans from 21 to 18. This means young people will be able to begin building their retirement savings earlier, potentially improving their future financial stability. The changes will take effect one year after the act is passed.
Key points
Lowers the eligibility age for retirement plans from 21 to 18.
Younger workers can start saving for retirement earlier, even if working part-time (minimum 500 hours per year for 2 years).
Companies must adjust their retirement plans to the new rules within one year of the act's enactment.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_1707
Sponsor: Sen. Cassidy, Bill [R-LA]
Process start date: 2025-05-12
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Helping Young Americans Save for Retirement Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_1707.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-05-12.

What are the main provisions?

Key points include:

  • Lowers the eligibility age for retirement plans from 21 to 18.
  • Younger workers can start saving for retirement earlier, even if working part-time (minimum 500 hours per year for 2 years).
  • Companies must adjust their retirement plans to the new rules within one year of the act's enactment.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Cassidy, Bill [R-LA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Labor Taxes